Thursday, November 20, 2008

It Gets Worse

GMAC wants to be a bank this morning and we have jobless claims at 8:30. The next move by the Fed in my view will be to cut rates to zero, maybe by the very beginning of the first quarter, as we do our best Japan in the early 90's.

The question now is do we rally big before further damage is done or do we just cave in today? Any rally will be short lived and I am looking to tag and release today.

I had a short out at 105 on FSLR yesterday and put up a chart last night. looks miserable. Also WFC on further weakness in the financials. just a couple names to watch. Both on the last post. Good luck today and be ready either way. A traders market and nothing more


About Me

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I am a former hedge fund manager, broker and capital markets dude who now trades for his own account. I love what I do. I will try to post some stocks and an occasional chart that looks attractive for entry.I will also try to point out the idiocy of conventional wisdom and the lack of value added by the mainstream financial media. These postings should not be viewed as recommendations.